Permira sells software specialist NDS to Cisco

The majority stake-holder hopes to close the transaction, which is subject to regulatory approval, in the second half of 2012. Rupert Murdoch's News Corporation also owns a significant stake in NDS.

Prior to agreeing the sale, NDS reshuffled its top management, replacing CEO Dr. Abe Peled with former Sonic Solutions CEO David Habiger and making him executive chairman.

The company had also explored IPO options with the US Securities and Exchange Commission but these plans were dropped.

Previous funding
Permira took the Nasdaq listed company private in a $3.6bn deal in 2009 which saw News Corporation's stake reduced by about a third.

The company grew with its signature investment in research and development and by acquiring other companies.

Expansion into fast growing markets India, China and Latin America was also a leading factor.

Company
NDS was founded in Israel in 1998. It is now headquartered in London and specialises in secure software solutions for pay-TV providers such as BSkyB, Direct TV and over 90 others worldwide.

The company is 51% owned by Permira, while News Corporation has a 49% stake.

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